TDS on salary FY 2021-22

Sir,

employee salary is Rs.240000/- per annual so TDS on applicable on salary or note
Replies (14)
Quick Summary
This discussion clarifies that TDS (Tax Deducted at Source) on salary is not applicable for the financial year 2021-22 if the annual salary is below £2.5 lakhs. It also touches upon the concept of 'carrying amount' in accounting, explaining it as the value of an asset on the balance sheet after deducting accumulated depreciation. While TDS may not be applicable, filing an Income Tax Return (ITR) is still recommended in certain cases.

No, as the salary per annum is below 5L, so TDS is not applicable.

for any details/queries you could contact caankithjain @ gmail.com.
TDS is not applicable
2.5lacs is the basic exemption and rebate is applicable upto 5lacs..

Since the salary is below BEL , Tds is not applicable on your salary
Dear,eswar Reddy sir what is mean by carrying amount in accounting and also in PPE
PPE means Property Plant and Equipment. Earlier accounting of assets was under fixed Assets now it is PPE
Carrying amount meaning and some examples
Carrying amount means amount of PPE as per balance Sheet.

Cost - Accumulated depreciation or

WDV - Depreciation
For example I have a machinery worth RS 2,50,000 after the depreciation the assume amount is for example 55,000 means ....here the what is the carrying amount ??
55000/- is the carrying amount
Thank you eswar Reddy sir....
The assesse age is not mentioned here.So pls update the details.
Yeah.You are right if the assessee is senior citizens the BEL may shift to higher ceiling
Your salary is much below rs.2.4 lacs.
let me explain. I will advice you to file returns.
Tds is not applicable and also ITR filing is not required

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